Independent Financial Support To Be Recommended During Arrears Mediation Visits

Ascent Contact, the field services division of specialist law firm Ascent, has announced a new partnership with national debt advisory service, Payplan.

Payplan is a market leading free debt advice provider which is funded by UK banks and building societies. The organisation was founded in 1992 and has since provided confidential money advice for over one million people.

The new partnership will enable Ascent to make immediate referrals to Payplan, where an appropriate need is identified during home visits for individuals who have fallen behind with mortgage repayments.  The initiative will be focused on helping customers to make arrangements with unsecured creditors as part of a wider household budgeting plan.

Ascent is confident it will benefit those individuals who are concerned about their total debt repayments and help all lenders reconnect more effectively with their customers who have multiple creditors looking to agree repayment plans.

Niall Gilhooley, chief executive at Ascent, said: “Ascent is proud of our success in reconnecting customers with lenders and making sustainable and appropriate payment plans. For those customers who are finding it too difficult to work with creditors  to agree an overall budget framework and overall debt management plan, this service offers totally independent advice which aims to encourage the customer to take ownership of their financial affairs.

“Our employed field representatives are trained to identify cases where they believe an individual would benefit from independent advice in relation to their debts. Payplan’s service dovetails very well with our arrears mediation work and we believe this link will further differentiate Ascent from its competitors.

“Ascent is committed to dealing with the customers of its business partners in an appropriate and sympathetic way and understand the stressful position that they are in. The lenders that we have approached about offering this to their client base have been very supportive.

“Payplan is a trusted name in providing debt advice and we are very confident that this partnership will prove to be a highly effective way to help and support customers who have fallen behind with loan payments to get back on track with their financial affairs.”

Peter Munro, Payplan’s Head of Business Development for Creditors, said: “It is great to partner with a business that is truly focussed on the customer and is passionate about serving their holistic needs. Ascent’s enthusiasm for this service and commitment to embedding this as best practice is fantastic to see and will pay dividends for their lender partners and customers.”